Traeger, Inc. ( (COOK) ) has released its Q3 earnings. Here is a breakdown of the information Traeger, Inc. presented to its investors.
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Traeger, Inc., headquartered in Salt Lake City, is a leading innovator in the outdoor cooking industry, known for its wood pellet grills that offer a versatile cooking experience. The company recently reported its financial results for the third quarter of fiscal 2025, highlighting a modest increase in revenues and a significant goodwill impairment charge.
Traeger reported a 2.7% increase in total revenues, reaching $125.4 million, with grill revenues contributing $76.6 million. However, the company faced a net loss of $89.8 million, primarily due to a $74.7 million goodwill impairment. Despite these challenges, Traeger achieved an 11.8% increase in Adjusted EBITDA, totaling $13.8 million, and announced a new cost-saving initiative under Project Gravity.
Project Gravity aims to streamline operations and enhance efficiency, with a revised annualized cost savings target of $50 million. The initiative includes strategic actions such as channel optimization and supply chain improvements, which are expected to transform the business and support long-term growth.
Looking ahead, Traeger remains confident in its fiscal 2025 guidance, expecting total revenue between $540 million and $555 million, with a gross margin of 40.5% to 41.5% and Adjusted EBITDA between $66 million and $73 million. The company continues to focus on its strategic initiatives to drive growth and improve profitability.